Among the 10,000 people who engage in contracts, not a single one can become wealthy. Stay away from contracts, leverage, and bankruptcy! Invest rather than speculate!

I often see many people dealing with contracts, leverage, and frequent trading; this is the most immature approach, even a foolish one.

Wealth is not acquired through trading, but by holding inexpensive quality assets.

Historically, no one has become rich through trading; on the contrary, 99% of people go bankrupt because of trading. Even trading master Livermore went bankrupt multiple times due to trading, which is why he ultimately realized: 'Money is made by sitting, not by trading.'

Charlie Munger has also stated similar things:

1. The secret to making big money is not in buying and selling... but in waiting;

2. In terms of short-term investment, the market is a voting machine. But in terms of long-term investment, it is a weighing machine;

3. Think in reverse, always think in reverse;

4. We make money by remembering the obvious, not by mastering the profound.